Towerview Llc Sells 413 Shares of Saga Communications, Inc. (SGA) Stock
Saga Communications, Inc. (NYSEMKT:SGA) major shareholder Towerview Llc sold 413 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $46.20, for a total transaction of $19,080.60. Following the transaction, the insider now owns 1,308,499 shares in the company, valued at approximately $60,452,653.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Saga Communications, Inc. (NYSEMKT:SGA) opened at 45.75 on Wednesday. Saga Communications, Inc. has a 12 month low of $35.00 and a 12 month high of $48.09. The company has a market capitalization of $268.10 million, a P/E ratio of 18.37 and a beta of 1.55. The firm has a 50-day moving average of $42.09 and a 200-day moving average of $41.56.
Saga Communications (NYSEMKT:SGA) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.82 earnings per share (EPS) for the quarter. The firm earned $36.40 million during the quarter, compared to the consensus estimate of $34.36 million. On average, equities analysts predict that Saga Communications, Inc. will post $2.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, September 12th. This is a positive change from Saga Communications’s previous quarterly dividend of $0.25. Saga Communications’s dividend payout ratio (DPR) is 40.00%.
SGA has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Saga Communications in a report on Wednesday, June 22nd. Beaufort Securities restated a “buy” rating on shares of Saga Communications in a report on Wednesday, June 22nd.
Large investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its stake in shares of Saga Communications by 702.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,881 shares of the company’s stock worth $114,000 after buying an additional 2,522 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Saga Communications by 94.2% in the second quarter. SG Americas Securities LLC now owns 4,974 shares of the company’s stock worth $197,000 after buying an additional 2,413 shares during the last quarter. Societe Generale bought a new stake in shares of Saga Communications during the second quarter worth $197,000. Teachers Advisors Inc. raised its stake in shares of Saga Communications by 7.1% in the second quarter. Teachers Advisors Inc. now owns 5,524 shares of the company’s stock worth $218,000 after buying an additional 366 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake in shares of Saga Communications by 13.5% in the second quarter. BlackRock Investment Management LLC now owns 15,477 shares of the company’s stock worth $612,000 after buying an additional 1,839 shares during the last quarter.
Saga Communications Company Profile
Saga Communications, Inc is a broadcast company primarily engaged in acquiring, developing and operating broadcast properties. The Company owns and/or operates over four television stations and over five low-power television stations serving approximately two markets, and over 67 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving approximately 20 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.
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